The AUD/USD pair had a volatile day on Tuesday. The pair continues to hover just below the 1.08 level, and the headlines around the world continue to be a drag on the upward momentum. The pair has rallied in a strong move lately, and the failure at the 1.08 level seems to be more of one that is restful, not weakness. The pair needs to rest at this level, and a pullback could be coming as well. The 1.06, 1.05, and 1.04 levels all could offer support on that pullback, and we are more than willing to buy the market at these levels will supportive candles. We are not thinking of selling the market at this point.

AUD/USD

AUD/USD Forecast February 15, 2012, Technical Analysis

AUD/USD Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.0530
1.0580
1.0658
1.0708
1.0786
1.0836
1.0914

 Fibonacci
1.0580
1.0629
1.0659
1.0708
1.0757
1.0787
1.0836

 Camarilla
1.0702
1.0714
1.0725
1.0708
1.0749
1.0760
1.0772

 Woodie's
-
1.0587
1.0673
1.0715
1.0801
1.0843
-

 DeMark's
-
-
1.0811
1.0720
1.0683
-
-